HELP!! Backing out of a Contract in Maryland... - Posted by johnDC

Posted by johnDC on October 14, 2003 at 24:44:09:

I am a seller in Maryland, currently under a contract.
I even agreed to help him with nearly $7000 in closing help. The inspection has already been done.
I gave a word-of-mouth notice that I agree to fix everything, even though the buyer gave a ridiculously long list of contingency-removal list asking me to fix too many things… I was unsure of going forward with it because it is exceeding my budget.

Well, now i’m even more unsure if i want to spend my money to fix it ($1000+).
My wife changed her mind and wants to move back to our old house. I also don’t want to sell anymore and want to move back in there.

In the original contract, i had put an addendum in the contract that says ‘seller wants to close no later than 3 weeks’.

Do I just say “I ain’t gonna fix anything” and cross my fingers that buyer will move on? What if he chooses to accept the condition that i ain’t fixing anything, what can i do then to back out?

or do i just take nice guy approach and say ‘i will return your inspection cost if you let me go’

or do i take tough approach and wait until 3 weeks is up and claim ’ your time’s up… too bad’…

What’s the best way to achive this?
Either way, I don’t want to sell anymore.